Home PropertyThe areas where rental growth has hit tenants by as much as 38 per cent

The areas where rental growth has hit tenants by as much as 38 per cent

25th Sep 19 2:46 pm

York, Manchester, and Ipswich have seen the strongest rental growth across the UK in the past five years, research from ideal flatmate shows.

ideal flatmate analysed rental prices across the UK and how they have growth over the last five years, highlighting the toughest markets for tenants when it comes to financial survival.

By countries in the UK

Properties in England have seen the strongest rental growth in the past five years, rising by 15.6%.

Just behind is Scotland (14.7%), followed by Northern Ireland (11.5%).

Wales has been the most tenant-friendly country in the UK in terms of rental growth, with an increase of just 3.11% over the course of five years.

Regions of England

Regionally thereโ€™s quite a disparity in terms of the rental growth in England.

The East of England has been by far the worst region for proportional rental growth, rising by 22.1%. The second-highest increase is the East Midlands (14.94%).

Thereโ€™s has been growth of between 12-13% across the rest of England, with the exception of the North East, where average rents have grown the least (10.41%).

The biggest jumps by town

Typical rents in York have increased by a significant 38.1% between 2014 and 2019, rising from ยฃ749 per month to ยฃ1,034.

Close behind are Manchester (37.8%), Ipswich (37.7%) and South Gloucestershire (37.0%).

Barking and Dagenham has seen the largest increase in London at 33.2%.

Rents fall in Aberdeen, Moray, and Leeds

Rental prices havenโ€™t increased everywhere, however.

Average rents in Aberdeen City and Moray, both in Scotland, have each fallen by 21.7% in the past five years from ยฃ923 to ยฃ723.

Meanwhile, Leeds has seen the biggest rental fall in rents in England, plunging by 18.1% from ยฃ928 to ยฃ760.

Co-founder of ideal flatmate, Tom Gatzen said, โ€œWhile initial rental affordability may be based on the cost of renting in a given area, many renters are aware of this cost and make a choice to live there.

“However, the real squeeze in rental affordability is the continued increase in rents in many parts of the UK on an annual basis.

“While an increase of ยฃ250 over five years might not sound significant, for those renting in York and already struggling with the cost, itโ€™s enough to price them out of the sector altogether.

“Over the last five years, the growing preference for people to share the burden and live with others rather than go it alone has been driven out of necessity rather than choice, but at least, we have better platforms, technology, and transparency to accommodate this growing trend now.โ€โ€‹โ€‹โ€‹โ€‹โ€‹โ€‹โ€‹

Location Average rental price (per month) 2014 Average rental price (per month) 2019 Change / growth (2014-2019)
England ยฃ742 ยฃ858 15.6%
Wales ยฃ500 ยฃ515 3.1%
Scotland ยฃ638 ยฃ732 14.7%
Northern Ireland ยฃ549 ยฃ612 11.5%
       
East of England ยฃ705 ยฃ863 22.4%
East Midlands ยฃ542 ยฃ623 14.9%
London ยฃ1,530 ยฃ1,727 12.9%
West Midlands ยฃ577 ยฃ651 12.8%
South West ยฃ695 ยฃ784 12.8%
North West ยฃ541 ยฃ610 12.8%
South East ยฃ873 ยฃ980 12.3%
North East ยฃ490 ยฃ541 10.4%
Yorkshire and the Humber ยฃ553 ยฃ609 10.1%
       
Rankings – best locations from 2014 to 2019 – by average rental price change/growth
Location Average rental price (per month) 2014 Average rental price (per month) 2019 Change / growth (2014-2019)
York ยฃ749 ยฃ1,034 38.1%
Manchester ยฃ609 ยฃ839 37.8%
Ipswich ยฃ467 ยฃ643 37.7%
South Gloucestershire ยฃ713 ยฃ977 37.0%
Barking and Dagenham ยฃ895 ยฃ1,192 33.2%
Dartford ยฃ753 ยฃ997 32.4%
Epping Forest ยฃ995 ยฃ1,306 31.3%
Newham ยฃ1,084 ยฃ1,422 31.2%
Cambridge ยฃ934 ยฃ1,225 31.2%
Newcastle upon Tyne ยฃ549 ยฃ717 30.6%
Derby ยฃ444 ยฃ578 30.2%
Redbridge ยฃ1,003 ยฃ1,303 29.9%
Bristol ยฃ828 ยฃ1,070 29.2%
Exeter ยฃ757 ยฃ976 28.9%
Three Rivers ยฃ1,055 ยฃ1,356 28.5%
       
Rankings – worst locations from 2014 to 2019 – by average rental price change/growth
Location Average rental price (per month) 2014 Average rental price (per month) 2019 Change / growth (2014-2019)
Aberdeen City ยฃ923 ยฃ723 -21.7%
Moray ยฃ923 ยฃ723 -21.7%
Leeds ยฃ928 ยฃ760 -18.1%
Windsor and Maidenhead ยฃ1,342 ยฃ1,252 -6.7%
Bracknell Forest ยฃ1,093 ยฃ1,021 -6.6%
Torfaen ยฃ517 ยฃ486 -6.0%
Surrey Heath ยฃ1,156 ยฃ1,101 -4.8%
Doncaster ยฃ487 ยฃ471 -3.3%
Plymouth ยฃ586 ยฃ569 -2.9%
Pembrokeshire ยฃ484 ยฃ471 -2.7%
Elmbridge ยฃ1,816 ยฃ1,776 -2.2%
Redcar and Cleveland ยฃ505 ยฃ497 -1.6%
Rhondda Cynon Taf ยฃ424 ยฃ419 -1.4%
Cotswold ยฃ951 ยฃ939 -1.3%
Richmond upon Thames ยฃ1,917 ยฃ1,896 -1.1%

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